DAMAC Prop­er­ties guar­an­tees a BMW with pur­chase of an apart­ment this DSF

Kuwait Times - - BUSINESS -

This Dubai Shop­ping Fes­ti­val (Dec 26, 2016 to Jan 28, 2017), DAMAC Prop­er­ties is of­fer­ing a brand new BMW or an­other lux­ury car - guar­an­teed with the pur­chase of a lux­ury apart­ment start­ing from AED 599,000.

Niall McLough­lin, Se­nior Vice Pres­i­dent, DAMAC Prop­er­ties said: “We’re pleased to of­fer in­vestors a unique op­por­tu­nity to ex­pe­ri­ence the plea­sure of lux­ury with DAMAC and drive away in a BMW or an­other lux­ury car, when they in­vest in a prop­erty across se­lect lux­ury de­vel­op­ments in Dubai. From lux­ury apart­ments over­look­ing Dubai Canal to branded res­i­dences in Dubai Ma­rina, this of­fer al­lows prop­erty buy­ers not only to live the lux­ury, but to drive it too.”

Known for its big deals for dis­cern­ing cus­tomers, DAMAC has been at the fore­front of lux­ury real es­tate de­vel­op­ment in Dubai. In ad­di­tion to its pro­mo­tions, the com­pany stresses high ap­pre­ci­a­tion po­ten­tial and re­turns in the Dubai prop­erty mar­ket. “With the city’s de­vel­op­ment still on the rise, there’s no bet­ter time than now to in­vest in prop­erty that will show high ap­pre­ci­a­tion in the years to come. With Dubai’s real es­tate re­turns av­er­ag­ing at 7-9 per­cent, eas­ily 2-3 per­cent higher than its ma­tured in­ter­na­tional coun­ter­parts like Lon­don, New York or Paris, the city be­comes a more at­trac­tive in­vest­ment des­ti­na­tion. In prime ar­eas, even a 10-12 per­cent re­turn isn’t un­com­mon,” added McLough­lin.

Ac­cord­ing to re­cent re­ports, the UAE’s real GDP is ex­pected to grow 4 to 5 per­cent be­tween 2017 and 2020. Coun­try-wide con­tracts worth around $22.6 bil­lion were awarded dur­ing the first half of 2016, mainly driven by real es­tate, power and trans­port projects in Dubai. The ex­po­nen­tial rates of de­vel­op­ment cou­pled with a ma­tur­ing prop­erty mar­ket that offers strong re­turns makes Dubai a global hotspot for real es­tate in­vest­ments to­day.

“The mar­ket value of Dubai’s real es­tate sec­tor also re­ceives a push from so­cio-eco­nomic fac­tors such as con­tin­u­ous pop­u­la­tion growth, ex­pand­ing job mar­kets, rapid in­fras­truc­tural de­vel­op­ment, in­creas­ing tourism and retail growth - lead­ing to a boost in the de­sir­abil­ity and prof­itabil­ity of real es­tate,” McLough­lin con­cluded.

As of 30th Septem­ber 2016, DAMAC Prop­er­ties has de­liv­ered ap­prox­i­mately 16,800 homes. The com­pany has a de­vel­op­ment port­fo­lio of over 44,000 units at var­i­ous stages of progress and plan­ning, com­pris­ing more than 13,000 ho­tel rooms, ser­viced apart­ments and ho­tel vil­las, which will be man­aged by its hos­pi­tal­ity arm, DAMAC Ho­tels & Re­sorts. With vi­sion and mo­men­tum, DAMAC Prop­er­ties is build­ing the next gen­er­a­tion of Mid­dle East lux­ury liv­ing.

DAMAC Prop­er­ties has been at the fore­front of the Mid­dle East’s lux­ury real es­tate mar­ket since 2002 - bring­ing lux­ury liv­ing ex­pe­ri­ences to res­i­dents from all over the world. Mak­ing its mark at the high­est end of stylish liv­ing, DAMAC Prop­er­ties has ce­mented its place as the lead­ing lux­ury de­vel­oper in the re­gion, of­fer­ing iconic de­sign and the up­most qual­ity. The com­pany’s foot­print now ex­tends across the Mid­dle East with projects in the UAE, Saudi Ara­bia, Qatar, Jor­dan, Le­banon and the United King­dom.

As of 30th Septem­ber 2016, DAMAC Prop­er­ties has de­liv­ered ap­prox­i­mately 16,800 homes. The com­pany has a de­vel­op­ment port­fo­lio of over 44,000 units at var­i­ous stages of progress and plan­ning, com­pris­ing more than 13,000 ho­tel rooms, ser­viced apart­ments and ho­tel vil­las, which will be man­aged by its hos­pi­tal­ity arm, DAMAC Ho­tels & Re­sorts. With vi­sion and mo­men­tum, DAMAC Prop­er­ties is build­ing the next gen­er­a­tion of Mid­dle East lux­ury liv­ing.

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